Global

Franklin Templeton and former officers fined crores of rupees

SEBI has barred Franklin Templeton AMC from launching any debt scheme for two years. The company has also been fined Rs 5 crore for discontinuing its six debt schemes last year. In its 100-page order, SEBI has asked the company to pay investment management and advisory charges for those six debt schemes. Refunded Rs 512 crore including interest earned. However, Franklin Templeton has said to challenge this decision of SEBI in the Securities Appellate Tribunal.

In its order, SEBI has banned Franklin Templeton’s former Asia-Pacific (APAC) region chief Vivek Kudva and his wife Rupa Securities from trading in the market for one year. SEBI has imposed a total on this couple

Seven crore fine has also been imposed. Both are alleged to have possessed highly sensitive information, before which they ‘encashed’ units of Franklin Templeton Mutual Fund worth 30.70 crores. They have also been ordered to deposit 22.64 crores from the redeemed units in an escrow account within 45 days. SEBI has also initiated action against several other officers including the Chief Executive Officer (CEO), Chief Compliance Officer and Directors of Franklin Templeton AMC.

Related posts

Google will approve online gambling apps for 15 more countries

Abhi

America: Power crisis in 14 states, 5 million people in darkness only in Texas

Abhi

Five arrested in Pak judge’s murder case

Sam Vinayak

Investigation begin of alliances with fundamentalists and violent groups of Former President Trump’s party

Abhi

Overseas Indians hopes to revive ‘American Dream’ by Biden-Kamala

Abhi

Saudi Arabia attacked by drone, fierce fire in Saudi Aramco’s oil refinery in Riyadh

Sam Vinayak